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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 01, 1988
Page
8
Macmillan Inc says its board authorized management to evaluate selling all or parts of the company and other options as it opposes a $1.9 billion tender offer from a Bass-led group. Robert Maxwell has signaled a $2.06 billion bid under certain conditions.
Homeowners age 55 or older may exclude up to 125000 of profit from a principal residence sale if they meet ownership and use tests. The exemption is lifetime, and is mainly for retirees selling a primary home to buy a smaller one. If buying a comparable or more expensive home, the rollover deferral may be better and can be used repeatedly. Century 21 Demby Inc. Realtors Elyria 405 Middle Ave. 323 4641 offers assistance.
Chronicle-Telegram announces support for the Berea Braves football photo page in the annual Football Section to appear Thursday September 1 1988. Limited space and contact Mark Walker at 1 800 848 6397 for more information before August 17.
Joseph Horne Co officials met privately after DeBartolo and Dillard withdrew their bid to acquire Horne's, Pittsburgh's second largest department store chain. The news affected 209 employees facing possible job losses, while 208 had already received layoff notices. Stores will stay under Pittsburgh ownership as MMC and managers previously arranged.
Cincinnati investors remain cautious after the October 1987 crash. Analysts note higher rates may follow, provoking conservative allocations as firms like Schwab and Merrill Lynch report declines. Observers cite Fed policy and Greenspan as factors, with few bullish or bearish bets.
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